this machinery (University of Phoenix, 2011), so I chose buying a refurbished scanner, plus you can upgrade when needed, and do not have to pay the fee that goes with it, which saves the hospital in the long run. Capital lease option for the x-ray machine I picked. Lease
Words: 1092 - Pages: 5
Simulation Review Paper Vicky Davis HCS/405 September 12, 2011 Kristin McFarland Simulation Review Paper Financial Accounting from a Cardiac Care Hospital’s Perspective In 1975, the first hospital that was constructed in Kelsey is Patton-Fuller Community Hospital. They are most often dedicated to provide quality customer care; they specialize in programs that can maintain the health and welfare of the local community and other population. Patton-Fuller Health
Words: 1591 - Pages: 7
Running Head: End-of-Chapter Questions Case Review September 28, 2012 Assignment 47.1 The case of Buder v. Satore (1989) deals with gifts to minors and the duties of the custodian of those gifts. Respectfully, this case arose out of an action brought by respondent on behalf of Theodore Alexander and Cori Marie Buder, then minor children of Ms. Sartire Buder and ex-husband Alexander Buder. The mother filed an action against
Words: 1669 - Pages: 7
CHAPTER 21 For a capital lease, the FASB has identified four criteria. 1. Lease transfers ownership of the property to the lessee. 2. Lease contains a bargain-purchase option. 3. Lease term is equal to 75 percent or more of the estimated economic life of the leased property. 4. The present value of the minimum lease payments (excluding executory costs) equals or exceeds 90 percent of the fair value of the leased property. **** Leases that DO NOT meet any of the four criteria are accounted
Words: 323 - Pages: 2
Accounting for Lease Agreements Background NeedsSpace have entered into a leasing agreement with WeHaveIt to rent space for its corporate offices. Certain provisions have been included within the lease that Needs Space must take into consideration. ASC 840 has defined this lease as an operating lease. Key Facts The lease agreed upon is a 10-year term lease with no option to renew. Furthermore, there is no ability to negotiate for renewal. The following provisions are included in the lease agreement:
Words: 266 - Pages: 2
Memorandum to File Date: September 29, 2013 From: Teresa Roldan Re: The amount included in gross income Facts The facts, as I understood them, is that Lester Machine shop leases a building from William and needs the building rewired which will cost $4000. William and Lester agreed that he would forgo one rent payment of $1000 if Lester pays for the wiring. Issues Does William include the $1000 that he is forgoing in his gross income? Applicable Law Section 109 addresses improvements
Words: 2295 - Pages: 10
REAL ESTATE LEASE This Lease Agreement (this "Lease") is dated September 14, 2013, by and between John Berleen and Jennifer Berleen ("Landlord"), and Amy Ammerman ("Tenant"). The parties agree as follows: PREMISES. Landlord, in consideration of the lease payments provided in this Lease, leases to Tenant a two-bedroom house with one full bath (the "Premises") located at 1029 3rd St, Webster City, Iowa 50595. No other portion of the building (hereinafter, the Building), wherein the Premises
Words: 3802 - Pages: 16
Chapter 10 19. Amortization schedule for bonds Period | 6 | Interest Rate | 5% / semiannual | Face Value | $100,000 | Coupon Rate | 4% / semiannual | Payment | $4,000 | a) Initial Issue Price = PV(0.05, 6, 4000, 100,000, 0) = $94,924.31 b) Bond payable amortization schedule Period(1) | Balance atBeginningOf Period(2) | InterestExpensefor Period(3) | CashPayment(4) | Increase inliability(5) | Balanceat Endof Period(6) | 1 | $94,924.31 | $4,746.22 | $4,000.00 | $746
Words: 709 - Pages: 3
unamortized discount. Only capital leases are included in the company’s liabilities, operating leases are not. Capital leases are recorded at the present value of the periodic lease payments discounted at the lessee’s cost of capital or the lessor’s implicit rate, if known by the lessee, whichever is lower. Subsequently, the capital lease reported in the balance sheet at the end of each reporting period is the net of principal payment component of the lease payment. Mortgage payables are reported
Words: 589 - Pages: 3
IntroductionASC 840, Leases and FASB Statement No. 13, Accounting for Leases covers the standards of financial accounting and reporting for leases by lessee and lessor. A lease is a contract in which the lessor gives the lessee the right to use an asset (property, plant and equipment) for a specified period of time in exchange for periodic rental payments. The lessor is the owner of the property and the lessee is a tenant or renter. Most frequent examples of assets acquired by lease include automobiles
Words: 561 - Pages: 3